IREN Limited (IREN) Stock: Price, Forecast & Analyst Target
IREN Limited (IREN) — MoonshotScore 20/100 (Weak band), calculated Oct 9, 2026. Price $35.71 (-7.70%), as of the Oct 8, 2026 trading session; market cap $12.8B. Expected results Nov 5, 2026.
Educational signal · not a buy or sell recommendation · How to read this
Market value / cash and short-term investments: 2.10× (market value Oct 8, 2026; cash Jun 30, 2026) · expected results Nov 5, 2026
IREN Limited · IREN · NASDAQ · Technology · Information Technology Services
Research dated 2026-09-13: IREN owns and operates the computing hardware, electrical systems and data-center facilities behind its workloads; it is not an asset-light information-technology contractor. Its reported segment remains Bitcoin mining, yet management expects those mining operations to be decommissioned. The commercial test is whether incoming capacity can replace that revenue while heavy investment and rising operating costs continue.
Price as of Oct 8, 2026
Key Statistics
MoonshotScore v2 · IREN (IREN)
WeakWhy this rating? Method, drivers & history
Bands for the MoonshotScore: Exceptional 80-100 · Strong 65-79 · Fair 45-64 · Weak below 45.
- Business Quality — Is this a genuinely good business?
- Financial Safety — Could this blow up on me?
- Valuation — Am I paying a fair price?
- Growth Durability — Is the growth real and likely to last?
- Momentum — Is the market already moving on this?
Bottom-tier quality, a fragile balance sheet, weak growth and an expensive valuation. Business Quality: Poor; Financial Safety: Fragile; Valuation: Bubble; Growth Durability: Fading; Momentum: Slipping.
- quarterly revenue $137M (Q4 FY2026, quarter ended Jun 2026)
- EPS beat 3 of 8
- Altman Z 1.11 · Piotroski F 3
Holding back: weak fundamentals, balance-sheet strain, a rich price, soft growth
What has the MoonshotScore done over time?
| Recorded | Score | Band |
|---|---|---|
| 21 | Weak | |
| 21 | Weak | |
| 21 | Weak | |
| 21 | Weak | |
| 20 | Weak | |
| 24 | Weak |
The score moved from 24 in the stored Oct 7, 2026 snapshot to 20 in the current publication computed Oct 9, 2026 (-4); the largest pillar moves were Momentum -6 and Valuation -2. This current publication is not yet represented in the immutable snapshot archive.
Calculation uses the most recent completed US trading session. Live price changes do not update the score immediately.
Computed · Educational signal · not a buy or sell recommendation · How the MoonshotScore is computed →
Price & valuation
| Measure | Value | As of |
|---|---|---|
| Latest provided price | $35.71 | |
| Change on the day | -7.70% | |
| 52-week range | $28.93 – $76.87 | |
| Market capitalisation | $12.8B | |
| Price / earnings (trailing) | 128.78 | |
| Shares traded on the day | 54.5M | |
| Beta (volatility vs the S&P 500) | 4.29 |
Price & events
Triangles mark reported quarters on the line: pointing up is above the recorded estimate, down is below, a diamond means no estimate on file or a dated event that is not a results report. Numbers key to the dated list. Point at or tab to any week for its close.
Events behind the price
- · Earnings results · above the recorded estimate
- · Earnings results · below the recorded estimate
- · Earnings results · below the recorded estimate
- · Earnings call · management outlook
- · Earnings results · below the recorded estimate
Results dates follow the earnings feed; call dates follow the transcript provider. Nearby dates do not establish that an event caused a price move.
Upcoming events
Management outlook
We expect first quarter cash SG&A to increase approximately $40 million to $50 million sequentially as we continue to invest for growth across sales and marketing, R&D, development, site and cloud operations and other functions ahead of significant revenue growth over the coming periods, which brings me to ARR.
Anthony Lewis · Statement from
We currently expect mining operations to be effectively decommissioned by the end of December 2026.
Anthony Lewis · Statement from
Statement dates identify the earnings call, not a deadline. Management expectations and provider estimates can change.
Read management statementsCouncil Score · weighted blend of 2 available disciplines
Council score for IREN (IREN): Bearish Lean
34/100 · DSome lenses disagree with the MoonshotScore. Compare their readings below; each uses a different method.
5-Factor Breakdown
Legends Council
6 lenses, 6 current
AI simulations built from the named investors' published principles. Not affiliated with, endorsed by, or the opinion of these individuals. How these lenses are built
Read on: Oct 9, 2026
Munger's Mindset
Balance Sheet & Valuation · historical
Read on: Sep 9, 2026 · older than the 27 hours refresh window; not a current reading
How to read these bars and different assessments
Council is a separate blend of available disciplines; MoonshotScore above remains the five-pillar research rating.
Bars show each model's ordered assessment on its own scale, not a probability or a comparable investment return. The adjacent words give the assessment; more filled segments indicate a stronger model reading.
One of these lenses reads this company more favourably than the MoonshotScore does: Dalio-style lens. Each lens is a separate scoring function over its own inputs, so a disagreement is a difference of method rather than a correction — the page's answer stays the MoonshotScore above.
On Sep 9, 2026, the Munger lens read the price at that time as fairly valued against its own estimate of value.
Readings on this page are from Oct 9, 2026, except a card that shows its own read date.
Watch the IREN film — every key number, told as a short cinematic story
~2 min · open the film
What is IREN (IREN), and what does it report?
Short answer · as of
IREN is a Sydney-based Nasdaq company built around vertically integrated data centers in Australia and Canada.
Research dated 2026-09-13.
IREN is a Sydney-based Nasdaq company built around vertically integrated data centers in Australia and Canada. Owning the facilities, power systems and computing equipment gives it direct control of the infrastructure, while also leaving the company responsible for funding that infrastructure.
Reported revenue has been identified with Bitcoin mining, so the historical income statement largely measures the economics of deploying specialized computing equipment against Bitcoin network conditions. Management's planned mining shutdown makes the historical segment less representative of the business IREN is trying to become.
What do the latest results show for IREN (IREN)?
Short answer · as of
The most recent reported quarter, Q4 FY2026, carried revenue of $137M.
Research dated 2026-09-13.
Revenue retreated across successive periods after an earlier peak. Gross profit held up better than revenue in the latest period, but operating and net losses widened sharply as selling, general and administrative expense rose. The annual view is equally stark: revenue expanded substantially while the company moved from profit to a large loss.
Recent earnings have fallen short of expectations even when reported revenue exceeded the latest estimate. Management says spending across commercial, development, research, site and cloud functions is being raised ahead of anticipated growth; that is an explanation of the investment program, not evidence that the expected revenue has arrived.
Where is operating spending going?
Revenue alongside research and development, selling, general and administrative expenses, and the FMP standardized operating result.
- Latest quarter · revenue
- $137.20M Jun 30, 2026
- Latest quarter · SG&A
- $128.30M Jun 30, 2026
- Latest quarter · FMP standardized operating result
- −$620.38M Jun 30, 2026
| Period end | Revenue | R&D | SG&A | FMP standardized operating result |
|---|---|---|---|---|
| Jun 30, 2026 | $137.20M | Not available | $128.30M | −$620.38M |
| Mar 31, 2026 | $144.79M | Not available | $71.84M | −$233.52M |
| Dec 31, 2025 | $184.69M | Not available | $90.07M | −$116.40M |
| Sep 30, 2025 | $240.29M | Not available | $102.46M | −$76.41M |
USD. The operating result is the FMP-standardized value supplied by FMP; it may differ from a filing’s GAAP loss from operations when the provider classifies separately presented items differently. It is not net income or cash flow.
Did results meet expectations?
Reported earnings and revenue alongside the estimates recorded by the provider.
- Latest report · revenue
- $137.20M Aug 27, 2026
- Latest report · revenue estimate
- $132.29M Aug 27, 2026
- Latest report · revenue vs estimate
- Above estimate Aug 27, 2026
- Latest report · EPS vs estimate
- Below estimate Aug 27, 2026
| Report date | Revenue · reported | Revenue · estimate | EPS · reported | EPS · estimate |
|---|---|---|---|---|
| Aug 27, 2026 | $137.20M | $132.29M | −$1.8900 | −$0.5509 |
| May 7, 2026 | $144.80M | $219.69M | −$0.7400 | −$0.2184 |
| Feb 5, 2026 | $184.69M | $227.33M | −$0.5200 | −$0.2418 |
| Nov 6, 2025 | $240.30M | $241.40M | $1.0600 | $0.1499 |
Dates are report dates, not fiscal period ends. Revenue is in USD; EPS is USD per share, rounded to four decimals. The earnings feed does not establish a basic, diluted or adjusted basis. Earnings-feed EPS may differ from statement EPS; the two series are not combined.
Quarterly income statement — 4 quarters
| Period | Revenue | Net income | EPS |
|---|---|---|---|
| Q4 FY2026 | $137M | -$684M | -$1.98 (diluted) |
| Q3 FY2026 | $145M | -$248M | -$0.74 (diluted) |
| Q2 FY2026 | $185M | -$155M | -$0.52 (diluted) |
| Q1 FY2026 | $240M | $385M | $1.08 (diluted) |
What are the financial strengths and risks for IREN (IREN)?
Short answer
Cash and short-term investments were $6.08B at the Jun 30, 2026 balance-sheet date. Operating cash flow was $1.81B for the quarter ended Jun 30, 2026, meaning operations generated cash. These figures do not establish a cash runway.
Research dated 2026-09-13.
IREN has accumulated substantial cash and short-term investments, and near-term liquidity ratios appear comfortable. Debt nevertheless exceeds that liquidity pool, leaving the company in a net-debt position, while the balance of cash rose dramatically over a short span.
Operating cash flow improved sharply in the latest period, yet capital spending still exceeded it and has generally absorbed more cash than operations produced. The calculated runway extends well beyond the immediate reporting horizon at the recent usage rate, but that protection would shrink if construction spending or operating costs accelerate. Weak distress and quality screens reinforce the need to judge liquidity alongside leverage and cash consumption.
Data-derived red flags
- Financial-distress signal — its Altman Z-Score of 1.11 sits in the distress zone (elevated bankruptcy risk).
- Inconsistent delivery — missed Wall Street EPS estimates in 5 of the last 8 reported quarters.
- Weak fundamentals — a Piotroski F-Score of 3/9 flags soft profitability, leverage or efficiency.
How much cash does the business generate or use?
Quarterly operating cash flow shows cash generated or used by operations.
- Latest quarter · operating cash flow
- $1.81B Jun 30, 2026
- Previous quarter · operating cash flow
- $60.55M Mar 31, 2026
| Period end | Operating cash flow | Capital expenditure (reported) |
|---|---|---|
| Jun 30, 2026 | $1.81B | −$1.98B |
| Mar 31, 2026 | $60.55M | −$980.20M |
| Dec 31, 2025 | $71.65M | −$836.85M |
| Sep 30, 2025 | $142.35M | −$280.61M |
Operating cash-flow bars share one scale and show magnitude; negative values mean cash used.
USD. Negative operating cash flow means cash used. Capital expenditure keeps the provider’s reported sign; it is not added here to estimate free cash flow or runway.
What should you watch next at IREN (IREN)?
Short answer · as of
The next earnings report is expected on Nov 5, 2026.
Research dated 2026-09-13.
The upcoming earnings release should be read against the recent revenue contraction and continuing loss expected by analysts. Watch whether gross profit converts into better operating results, whether the planned increase in overhead appears before the anticipated revenue, and whether capital spending again outruns operating cash generation.
Management expects mining operations to be effectively decommissioned and says capacity arriving late in a reporting period will contribute mainly in the following period. That timing creates a visible handoff risk: mining can fade before replacement revenue is fully reflected. The broad spread among longer-range revenue estimates shows how much depends on the pace and commercial use of that capacity.
What management is planning
Management expectations, not completed milestones or guarantees. Selected verbatim excerpts; dates follow the transcript provider.
We expect first quarter cash SG&A to increase approximately $40 million to $50 million sequentially as we continue to invest for growth across sales and marketing, R&D, development, site and cloud operations and other functions ahead of significant revenue growth over the coming periods, which brings me to ARR.
Anthony Lewis ·
We currently expect mining operations to be effectively decommissioned by the end of December 2026.
Anthony Lewis ·
A significant amount of the December capacity is expected to come on late in the quarter, so we will see the reported revenue effect come through predominantly in the March quarter.
Anthony Lewis ·
How does IREN compare with its peers?
Short answer
IREN's score ranks 8th of 9 in the bounded comparison shown, against 8 same-model peers. These are company scores, not expected investment returns. The set lists named competitors first, then companies in the same data-provider industry classification closest in market value; that classification is the provider's, not our judgment of business similarity.
Research dated 2026-09-13.
IREN differs from asset-light information-technology service companies because it owns the physical stack, from electrical systems and facilities to computing hardware. That structure concentrates capital requirements inside the company rather than limiting the model to software or labor.
IREN also differs from a continuing Bitcoin miner because management intends to retire mining operations. Investors are therefore evaluating an infrastructure transition whose legacy revenue, replacement capacity, overhead and construction spending move on different schedules.
| Company | Price | Market value | Score |
|---|---|---|---|
| $110.98 Oct 9, 2026 | $23.5B | 92 5-pillar Oct 9, 2026 | |
| $19.96 Oct 9, 2026 | $21.7B | 68 5-pillar Oct 9, 2026 | |
| $9.55 Oct 9, 2026 | $27.9B | 65 5-pillar Oct 9, 2026 | |
| $107.58 Oct 9, 2026 | $23.5B | 57 5-pillar Oct 9, 2026 | |
| $38.53 Oct 9, 2026 | $19.6B | 53 5-pillar Oct 9, 2026 | |
| $42.51 Oct 9, 2026 | $40.3M | 50 5-pillar Oct 9, 2026 | |
| $0.59 Oct 9, 2026 | $19.6M | 23 5-pillar Oct 9, 2026 | |
| IREN (IREN) — this page | $35.71 | $12.8B | 20 |
| $20.23 Oct 9, 2026 | $7.92B | 13 5-pillar Oct 9, 2026 |
Only 5-pillar scores are ranked together. Other models are not directly comparable. Price and score dates are shown separately; market-value dates are unavailable.
The records behind this page
Analyst targets & estimates
What analysts have on file
- Price target, low to high
- $40.00 – $100.00
- Consensus target
- $81.00
- Median target
- $85.00
Consensus record · Captured .
Measured against a quoted price of $35.71 (as of Oct 8, 2026).
Insider activity
Form 4 records via FMP · Of the newest 100 records, those within the last 180 days, newest dated Jul 1, 2026
- Transactions
- 9
- Identified insiders
- 7
- Purchases
- 0
- Sales
- 0
- Other transactions
- 9
Purchases and sales use the reported transaction category. Other transactions include awards, exercises, gifts, withholding and unclassified activity; an acquisition or disposition alone is not a purchase or sale. These records do not establish intent.
Who holds the shares?
Institutional ownership reported through 13F filings.
- Institutional ownership
- 99.6% Period end Jun 30, 2026
- Previous quarter · ownership
- 77.0% Prior to period end Jun 30, 2026
- Reporting holders
- 796 Period end Jun 30, 2026
- Previous quarter · holders
- 578 Prior to period end Jun 30, 2026
| Holders in provider snapshot | Shares |
|---|---|
| Goldman Sachs Group INC | 20,217,300 |
| Susquehanna International Group, Llp | 16,534,900 |
| Jane Street Group, LLC | 16,280,600 |
| Susquehanna International Group, Llp | 15,687,800 |
| Bank Of America Corp /De/ | 14,211,325 |
Quarterly filings lag the period end. Holder rows are names in the provider snapshot, not a verified ranking; individual filing dates are not supplied. Related managers may appear separately, so these positions are not summed. Holder snapshot as of Jun 30, 2026.
What has been published about IREN (IREN)?
IREN Technology Stock FAQ
Research dated 2026-09-13; the full attribution is under Sources. The last 2 questions are answered from this page's own dated data, not from the research.
What does IREN sell through its vertically integrated data centers?
Reported segment revenue has been tied to Bitcoin mining, produced through company-owned computing hardware, electrical systems and facilities. Management's planned mining shutdown means future results will increasingly depend on commercializing other data-center capacity.
What happens when IREN decommissions Bitcoin mining?
A historical source of reported revenue is set to disappear, while management expects newly arriving capacity to affect revenue with a lag. The transition succeeds only if replacement activity scales quickly enough to absorb the infrastructure and operating cost base.
Why can IREN report strong gross profit and large operating losses?
Gross profit remained substantial, but selling, general and administrative expense increased and operating losses widened. Management expects further near-term spending across commercial, development, research, site and cloud functions ahead of anticipated growth.
Can IREN fund its data-center expansion from cash generation?
Operating cash flow has not consistently covered capital spending, so expansion is not currently self-funding on that measure. The large liquidity pool provides meaningful capacity, but debt exceeds cash and the runway depends on the recent rate of cash use holding.
What is the IREN stock price today?
The last price recorded on this page for IREN Limited (IREN) is $35.71, as of the Oct 8, 2026 trading session (source: Financial Modeling Prep (FMP) · quote). It is a provider snapshot, not a live exchange feed, so check a brokerage quote before you trade.
What is the IREN price target?
The analyst consensus price target for IREN Limited (IREN) is $81.00 (range $40.00 to $100.00, median $85.00), per FMP data captured Oct 9, 2026. Targets are analyst opinions and change often; they are not a Stock Expert AI forecast.
Disclaimer: This content is for informational purposes only and does not constitute investment advice. Always do your own research and consult a financial advisor.
Research written by Codex (gpt-5.6-sol) on 2026-09-13. AI-authored analysis; source dates are shown with each answer. Editorial oversight is systemic, not page-by-page. Editorially accountable: Sedat ANAK, Founder and Editor-in-Chief.
Sources — records for every figure on this page (79 figures)
The 79 rows below are exactly the facts the evidence-backed sections of this page printed — the 10-second verdict, the MoonshotScore, price and market value, the five questions with their receipts, and the records behind this page. Known dates and sources are recorded on their own rows; an em dash or UNRECORDED tier preserves a stored observation without inventing either. The quarterly income statement is provider-standardized (FMP) under one row, and scale definitions — a 0-100 rating, the band ladder, the Piotroski 0–9 range — are fixed rather than measured. No number in those sections was generated by a model. The register does not cover quoted third-party headlines, the dated council readings, or the Frequently Asked Questions; each of those says where it came from where it stands.
"As of" is the date the value is true for where the source carries one — a quarter end, a filing date, a price close, the day the score was computed. A cached observation with no source date remains undated; the page publication date is not used as a substitute.
OFFICIAL — 2 facts from SEC filings and earnings calls
| Fact ID | Fact | Value as shown | As of | Tier | Source |
|---|---|---|---|---|---|
prod.outlook | Management outlook — call excerpts | Anthony Lewis (Aug 27, 2026): We expect first quarter cash SG&A to increase approximately $40 million to $50 million sequentially as we continue to invest for growth across sales and marketing, R&D, development, site and cloud operations and other functions ahead of significant revenue growth over the coming periods, which brings me to ARR. Anthony Lewis (Aug 27, 2026): We currently expect mining operations to be effectively decommissioned by the end of December 2026. Anthony Lewis (Aug 27, 2026): A significant amount of the December capacity is expected to come on late in the quarter, so we will see the reported revenue effect come through predominantly in the March quarter. | OFFICIAL | Company earnings call, transcript via Financial Modeling Prep (FMP) — Selected verbatim statements from the latest available call, dated by the transcript provider. Management expectations, not completed milestones or guarantees. Relative dates retain the speaker's wording. | |
id.hq | SEC filing business address | Level 5, 55 Market Street, Sydney, 2000 | OFFICIAL | SEC EDGAR filer business address — The SEC filer business address. Our market-data provider separately lists "55 Market Street, Sydney, NSW, 2000, AU". |
FMP — 69 facts from Financial Modeling Prep endpoint families
| Fact ID | Fact | Value as shown | As of | Tier | Source |
|---|---|---|---|---|---|
earn.next | Next earnings date | Nov 5, 2026 | FMP | Financial Modeling Prep (FMP) earnings calendar — The date is our provider's estimate until the company confirms it. | |
px.last | Latest provided price | $35.71 | FMP | Financial Modeling Prep (FMP) · quote — Dated to the US trading session the price belongs to, derived from the quote record's timestamp (weekend and pre-open reads roll back to the previous weekday; exchange holidays are not modelled). The record does not establish an exchange execution time. Retrieved 2026-10-08T20:00:01.000Z. | |
px.change | Change on the day | -7.70% | FMP | Financial Modeling Prep (FMP) · quote | |
px.mcap | Market capitalization | $12.8B | FMP | Financial Modeling Prep (FMP) quote — Provider market cap uses the share class it prices; a company with more than one class may show a larger total elsewhere. Market cap record date: 2026-10-08. Source capture time was not supplied. No share-count basis is inferred; this page preserves the reported amount instead of recalculating it from shares. | |
px.change_abs | Change on the day, in dollars | −$2.98 | FMP | Financial Modeling Prep (FMP) · quote | |
fin.q_revenue | Revenue, Q4 FY2026 | $137M | FMP | Financial Modeling Prep (FMP) · income statement (quarterly) | |
px.pe | Price / earnings (trailing) | 128.78 | FMP | Financial Modeling Prep (FMP) · quote | |
px.volume | Shares traded on the day | 54.5M | FMP | Financial Modeling Prep (FMP) · quote | |
px.beta | Beta | 4.29 | FMP | Financial Modeling Prep (FMP) company profile | |
id.ceo | Chief executive | William Roberts | FMP | Financial Modeling Prep (FMP) key executives (proxy-derived) — Titles and pay come from the company's proxy statement as our provider parsed it. | |
id.employees | Employees | 685 | FMP | Financial Modeling Prep (FMP) employee count, from the company's filing | |
fin.annual | Revenue and net result by fiscal year | 5 fiscal years, FY2022 through FY2026: FY2022 revenue $59.04M, net result −$419.77M; FY2023 revenue $75.51M, net result −$171.83M; FY2024 revenue $187.19M, net result −$28.92M; FY2025 revenue $501.02M, net result $86.94M; FY2026 revenue $707.00M, net result −$702.60M | FMP | Financial Modeling Prep (FMP), from the company's 10-K income statements | |
fin.rev_mix | Reported revenue segments | AI Cloud $128.79M · Bitcoin Mining $578.21M | FMP | Financial Modeling Prep (FMP) revenue segmentation, from the company's 10-K | |
fin.gross_margin | Gross margin (trailing twelve months) | 68.9% | FMP | Financial Modeling Prep (FMP) key-metrics-ttm + ratios-ttm — A ratio our provider could not compute is absent rather than shown as zero. | |
fin.q_table.depth.2026-06-30.revenue_k | Revenue — period end 2026-06-30 | $137.20M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2026-06-30.sga_k | SG&A — period end 2026-06-30 | $128.30M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2026-06-30.operating_result_k | FMP standardized operating result — period end 2026-06-30 | −$620.38M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2026-03-31.revenue_k | Revenue — period end 2026-03-31 | $144.79M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2026-03-31.sga_k | SG&A — period end 2026-03-31 | $71.84M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2026-03-31.operating_result_k | FMP standardized operating result — period end 2026-03-31 | −$233.52M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2025-12-31.revenue_k | Revenue — period end 2025-12-31 | $184.69M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2025-12-31.sga_k | SG&A — period end 2025-12-31 | $90.07M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2025-12-31.operating_result_k | FMP standardized operating result — period end 2025-12-31 | −$116.40M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2025-09-30.revenue_k | Revenue — period end 2025-09-30 | $240.29M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2025-09-30.sga_k | SG&A — period end 2025-09-30 | $102.46M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2025-09-30.operating_result_k | FMP standardized operating result — period end 2025-09-30 | −$76.41M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
earn.history.depth.2026-08-27.revenue_actual | Revenue · reported — report date 2026-08-27 | $137.20M | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2026-08-27.revenue_estimated | Revenue · estimate — report date 2026-08-27 | $132.29M | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2026-08-27.eps_actual | EPS · reported — report date 2026-08-27 | −$1.8900 | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2026-08-27.eps_estimated | EPS · estimate — report date 2026-08-27 | −$0.5509 | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2026-05-07.revenue_actual | Revenue · reported — report date 2026-05-07 | $144.80M | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2026-05-07.revenue_estimated | Revenue · estimate — report date 2026-05-07 | $219.69M | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2026-05-07.eps_actual | EPS · reported — report date 2026-05-07 | −$0.7400 | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2026-05-07.eps_estimated | EPS · estimate — report date 2026-05-07 | −$0.2184 | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2026-02-05.revenue_actual | Revenue · reported — report date 2026-02-05 | $184.69M | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2026-02-05.revenue_estimated | Revenue · estimate — report date 2026-02-05 | $227.33M | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2026-02-05.eps_actual | EPS · reported — report date 2026-02-05 | −$0.5200 | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2026-02-05.eps_estimated | EPS · estimate — report date 2026-02-05 | −$0.2418 | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2025-11-06.revenue_actual | Revenue · reported — report date 2025-11-06 | $240.30M | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2025-11-06.revenue_estimated | Revenue · estimate — report date 2025-11-06 | $241.40M | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2025-11-06.eps_actual | EPS · reported — report date 2025-11-06 | $1.0600 | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2025-11-06.eps_estimated | EPS · estimate — report date 2025-11-06 | $0.1499 | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
fin.q_table | Quarterly income statement | 4 quarters through Q4 FY2026 | FMP | Financial Modeling Prep (FMP) · income statement (quarterly), as filed | |
fin.cash_investments | Cash and short-term investments | $6.08B | FMP | Financial Modeling Prep (FMP), from the company's balance sheet — Long-term investments are shown separately; their marketability is not established by the provider field. The cash and short-term investment balance does not establish unrestricted availability. Long-term investments are excluded and remain unclassified. Restrictions on cash and short-term investments require separate review. | |
fin.opcf_latest | Latest-quarter operating cash flow | $1.81B | FMP | Financial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Period end: 2026-06-30. Negative operating cash flow means cash used. This figure is not a cash-runway estimate. | |
fin.long_term_investments | Long-term investments (classification unverified) | $0.00 | FMP | Financial Modeling Prep (FMP), from the company's balance sheet — Long-term investments are shown separately; their marketability is not established by the provider field. The cash and short-term investment balance does not establish unrestricted availability. | |
fin.total_debt | Total debt | $7.84B | FMP | Financial Modeling Prep (FMP), from the company's balance sheet — Long-term investments are shown separately; their marketability is not established by the provider field. The cash and short-term investment balance does not establish unrestricted availability. | |
fin.price_to_book | Price to book value | 3.11× | FMP | Financial Modeling Prep (FMP) key-metrics-ttm + ratios-ttm — A ratio our provider could not compute is absent rather than shown as zero. | |
fin.opcf.depth.2026-06-30.operating_cash_flow_m | Operating cash flow — period end 2026-06-30 | $1.81B | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Cash-flow note |
fin.opcf.depth.2026-03-31.operating_cash_flow_m | Operating cash flow — period end 2026-03-31 | $60.55M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Cash-flow note |
fin.opcf.depth.2026-06-30.capex_m | Capital expenditure (reported) — period end 2026-06-30 | −$1.98B | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Cash-flow note |
fin.opcf.depth.2026-03-31.capex_m | Capital expenditure (reported) — period end 2026-03-31 | −$980.20M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Cash-flow note |
fin.opcf.depth.2025-12-31.operating_cash_flow_m | Operating cash flow — period end 2025-12-31 | $71.65M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Cash-flow note |
fin.opcf.depth.2025-12-31.capex_m | Capital expenditure (reported) — period end 2025-12-31 | −$836.85M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Cash-flow note |
fin.opcf.depth.2025-09-30.operating_cash_flow_m | Operating cash flow — period end 2025-09-30 | $142.35M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Cash-flow note |
fin.opcf.depth.2025-09-30.capex_m | Capital expenditure (reported) — period end 2025-09-30 | −$280.61M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Cash-flow note |
earn.pt_range | Analyst price target, low to high | $40.00 – $100.00 | FMP | Financial Modeling Prep (FMP) · price-target consensus — Captured Oct 9, 2026 · Coverage not supplied | |
earn.pt_consensus | Consensus analyst price target | $81.00 | FMP | Financial Modeling Prep (FMP) · price-target consensus — Captured Oct 9, 2026 · Coverage not supplied | |
earn.pt_median | Median analyst price target | $85.00 | FMP | Financial Modeling Prep (FMP) · price-target consensus — Captured Oct 9, 2026 · Coverage not supplied | |
own.insiders | Insider transactions via FMP | 9 transactions · 0 purchases, 0 sales, 9 other transactions · 7 identified insiders · of the newest 100 records, those within the last 180 days, newest dated Jul 1, 2026 | FMP | Financial Modeling Prep (FMP), carrying Form 4 transaction records — Purchases and sales use the reported transaction category. Other transactions include awards, exercises, gifts, withholding and unclassified activity; an acquisition or disposition alone is not a purchase or sale. These records do not establish intent. | |
own.institutions.depth.ownership_pct | Institutional ownership | 99.6% | FMP | Financial Modeling Prep (FMP) institutional ownership summary, from 13F filings — 13F filings are quarterly and lag the quarter end by up to 45 days. Period end Jun 30, 2026 | |
own.institutions.depth.ownership_pct_previous_quarter | Previous quarter · ownership | 77.0% | FMP | Financial Modeling Prep (FMP) institutional ownership summary, from 13F filings — 13F filings are quarterly and lag the quarter end by up to 45 days. Prior to period end Jun 30, 2026 | |
own.institutions.depth.holders | Reporting holders | 796 | FMP | Financial Modeling Prep (FMP) institutional ownership summary, from 13F filings — 13F filings are quarterly and lag the quarter end by up to 45 days. Period end Jun 30, 2026 | |
own.institutions.depth.holders_previous_quarter | Previous quarter · holders | 578 | FMP | Financial Modeling Prep (FMP) institutional ownership summary, from 13F filings — 13F filings are quarterly and lag the quarter end by up to 45 days. Prior to period end Jun 30, 2026 | |
own.top_holders.depth.holder_0.shares | Goldman Sachs Group INC — shares in provider snapshot | 20,217,300 | FMP | Financial Modeling Prep (FMP) institutional holders, from 13F filings — Provider snapshot as of 2026-06-30; individual filing date not supplied. | |
own.top_holders.depth.holder_1.shares | Susquehanna International Group, Llp — shares in provider snapshot | 16,534,900 | FMP | Financial Modeling Prep (FMP) institutional holders, from 13F filings — Provider snapshot as of 2026-06-30; individual filing date not supplied. | |
own.top_holders.depth.holder_2.shares | Jane Street Group, LLC — shares in provider snapshot | 16,280,600 | FMP | Financial Modeling Prep (FMP) institutional holders, from 13F filings — Provider snapshot as of 2026-06-30; individual filing date not supplied. | |
own.top_holders.depth.holder_3.shares | Susquehanna International Group, Llp — shares in provider snapshot | 15,687,800 | FMP | Financial Modeling Prep (FMP) institutional holders, from 13F filings — Provider snapshot as of 2026-06-30; individual filing date not supplied. | |
own.top_holders.depth.holder_4.shares | Bank Of America Corp /De/ — shares in provider snapshot | 14,211,325 | FMP | Financial Modeling Prep (FMP) institutional holders, from 13F filings — Provider snapshot as of 2026-06-30; individual filing date not supplied. |
UNRECORDED — 3 facts from stored observations whose source was not recorded
| Fact ID | Fact | Value as shown | As of | Tier | Source |
|---|---|---|---|---|---|
earn.history | Reported versus estimated, recent quarters | EPS beat 3 of 8 | UNRECORDED | Stored earnings-history observation — Captured 2026-10-02 · Expired observation | |
fin.scores | Distress and quality screens | Altman Z 1.11 · Piotroski F 3 | UNRECORDED | Stored financial-scores observation — Captured 2026-10-09 | |
px.range52 | 52-week range | $28.93 – $76.87 | UNRECORDED | Stored company-profile observation — Captured 2026-10-09 |
COMPUTED — 3 facts from our arithmetic, formula restated
| Fact ID | Fact | Value as shown | As of | Tier | Source |
|---|---|---|---|---|---|
fin.mcap_to_cash | Market value per dollar of cash and short-term investments | 2.10× | — | COMPUTED | Computed on this page from the figures above — The market capitalisation printed on this page divided by cash and short-term investments of $6.08B at Jun 30, 2026. Long-term investments are excluded and remain unclassified. Restrictions on cash and short-term investments require separate review. Market cap record date: 2026-10-08. Balance-sheet reference date: 2026-06-30. The inputs do not establish a single common source date for this ratio. |
earn.history.depth.2026-08-27.revenue_actual.comparison | Latest report · revenue vs estimate | Above estimate | Report date · | COMPUTED | Computed from Financial Modeling Prep (FMP) earnings — Earnings-history note — Method: compare reported revenue ($137.20M) with the recorded estimate ($132.29M) at displayed precision. Equal displayed values are in line. This compares reported results with recorded estimates, not investment returns. |
earn.history.depth.2026-08-27.eps_actual.comparison | Latest report · EPS vs estimate | Below estimate | Report date · | COMPUTED | Computed from Financial Modeling Prep (FMP) earnings — Earnings-history note — Method: compare reported EPS (−$1.8900) with the recorded estimate (−$0.5509) at displayed precision. Equal displayed values are in line. This compares reported results with recorded estimates, not investment returns. |
OURS — 2 facts from Stock Expert AI's own score and rank
| Fact ID | Fact | Value as shown | As of | Tier | Source |
|---|---|---|---|---|---|
ours.moonshot | MoonshotScore v2 | 20 of 100 · Weak · pillars 16 / 4 / 12 / 27 / 35 | OURS | Stock Expert AI MoonshotScore v2 engine | |
ours.moonshot_change | MoonshotScore movement | 24 (stored snapshot Oct 7, 2026) → 20 (current publication computed Oct 9, 2026) (-4) | OURS | Stock Expert AI current score publication and immutable score snapshots — The current score publication is not yet represented in the immutable snapshot archive. |
Fact-family notes
- Quarterly statement note. Source series as of 2026-06-30. USD. The operating result is the FMP-standardized value supplied by FMP; it may differ from a filing’s GAAP loss from operations when the provider classifies separately presented items differently. It is not net income or cash flow. Applies to Fact IDs:
fin.q_table.depth.2026-06-30.revenue_k,fin.q_table.depth.2026-06-30.sga_k,fin.q_table.depth.2026-06-30.operating_result_k,fin.q_table.depth.2026-03-31.revenue_k,fin.q_table.depth.2026-03-31.sga_k,fin.q_table.depth.2026-03-31.operating_result_k,fin.q_table.depth.2025-12-31.revenue_k,fin.q_table.depth.2025-12-31.sga_k,fin.q_table.depth.2025-12-31.operating_result_k,fin.q_table.depth.2025-09-30.revenue_k,fin.q_table.depth.2025-09-30.sga_k,fin.q_table.depth.2025-09-30.operating_result_k. - Earnings-history note. Source series as of 2026-08-27. Dates are report dates, not fiscal period ends. Revenue is in USD; EPS is USD per share, rounded to four decimals. The earnings feed does not establish a basic, diluted or adjusted basis. Earnings-feed EPS may differ from statement EPS; the two series are not combined. Applies to Fact IDs:
earn.history.depth.2026-08-27.revenue_actual,earn.history.depth.2026-08-27.revenue_estimated,earn.history.depth.2026-08-27.revenue_actual.comparison,earn.history.depth.2026-08-27.eps_actual.comparison,earn.history.depth.2026-08-27.eps_actual,earn.history.depth.2026-08-27.eps_estimated,earn.history.depth.2026-05-07.revenue_actual,earn.history.depth.2026-05-07.revenue_estimated,earn.history.depth.2026-05-07.eps_actual,earn.history.depth.2026-05-07.eps_estimated,earn.history.depth.2026-02-05.revenue_actual,earn.history.depth.2026-02-05.revenue_estimated,earn.history.depth.2026-02-05.eps_actual,earn.history.depth.2026-02-05.eps_estimated,earn.history.depth.2025-11-06.revenue_actual,earn.history.depth.2025-11-06.revenue_estimated,earn.history.depth.2025-11-06.eps_actual,earn.history.depth.2025-11-06.eps_estimated. - Cash-flow note. Source series as of 2026-06-30. USD. Negative operating cash flow means cash used. Capital expenditure keeps the provider’s reported sign; it is not added here to estimate free cash flow or runway. Applies to Fact IDs:
fin.opcf.depth.2026-06-30.operating_cash_flow_m,fin.opcf.depth.2026-03-31.operating_cash_flow_m,fin.opcf.depth.2026-06-30.capex_m,fin.opcf.depth.2026-03-31.capex_m,fin.opcf.depth.2025-12-31.operating_cash_flow_m,fin.opcf.depth.2025-12-31.capex_m,fin.opcf.depth.2025-09-30.operating_cash_flow_m,fin.opcf.depth.2025-09-30.capex_m.
- Published
- Research standards
- Methodology · Editorial policy · Corrections
- Report a number
- sedat@stockexpertai.com
Sources used for research written 2026-09-13
Historical evidence preserved with this analysis. Current figures are listed separately above.
| Evidence | Captured value | Source date | Source type | Source |
|---|---|---|---|---|
| Business description | IREN Limited, established in 2018 and based in Sydney, Australia, operates a comprehensive, vertically integrated data center business spanning Australia and Canada. The company possesses and manages all essential infrastructure, including its computing hardware, electrical systems, and the data center facilities themselves. A primary undertaking for IREN Limited is the mining of Bitcoin, a scarce digital asset created and exchanged via a decentralized, peer-to-peer computer network utilizing specialized Bitcoin software. The company was previously named Iris Energy Limited, officially adopting IREN Limited in November 2024. | 2026-09-13 | FMP | Financial Modeling Prep (FMP) company profile |
| Sector / industry (provider taxonomy) | Technology / Information Technology Services The company's SEC filings classify it under SIC 6199 — Finance Services. | 2026-09-13 | FMP | Financial Modeling Prep (FMP) company profile |
| Revenue by segment | Bitcoin Mining: $4.39M | 2026-06-30 | FMP | Financial Modeling Prep (FMP) revenue segmentation, from the company's 10-K |
| Management outlook — dated call excerpts | Captured record · 3 entries
Selected verbatim statements from the latest available call, dated by the transcript provider. Management expectations, not completed milestones or guarantees. Relative dates retain the speaker's wording. | 2026-08-27 | OFFICIAL | Company earnings call, transcript via Financial Modeling Prep (FMP) |
| Operating cash flow by quarter (USD millions) | Captured record · 8 entries
| 2026-06-30 | FMP | Financial Modeling Prep (FMP), from the company's 10-Q cash-flow statements |
| Quarterly income statement (USD thousands) | Captured record · 8 entries
| 2026-06-30 | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements |
| Legal name | IREN Ltd Our market-data provider lists the name as "IREN Limited"; the filer's own record is used here. | 2026-08-27 | OFFICIAL | SEC EDGAR — 10-K filed 2026-08-27 |
| Ticker / exchange | IREN on Nasdaq | 2026-09-13 | OFFICIAL | SEC EDGAR filer record |
| Headquarters | LEVEL 5, 55 MARKET STREET, SYDNEY, 2000 Our market-data provider lists "55 Market Street, Sydney, NSW, 2000, AU"; the address on file with the SEC is used here. | 2026-09-13 | OFFICIAL | SEC EDGAR filer business address |
| Annual revenue and net result (USD millions) | Captured record · 5 entries
| 2026-06-30 | FMP | Financial Modeling Prep (FMP), from the company's 10-K income statements |
| Reported versus estimated, last 8 quarters | Captured record · 8 entries
| 2026-08-27 | FMP | Financial Modeling Prep (FMP) earnings |
| Trailing twelve-month ratio set | Quick ratio: 3.55; Current ratio: 3.55; Debt to equity: 1.87; Net margin: -99.4%; Gross margin: 68.9%; Operating margin: -148.1%; Return on assets: -4.4%; Return on equity: -23% Price-based multiples captured at research time are not repeated here; the page shows each once, from current figures with their own dates. A ratio our provider could not compute is absent rather than shown as zero. | 2026-09-13 | FMP | Financial Modeling Prep (FMP) key-metrics-ttm + ratios-ttm |
| Most recent periodic reports | 2026-08-27 | OFFICIAL | SEC EDGAR filer submissions | |
| Cash, investments and debt | Total debt: $7.84B; Liquidity basis: cash and short-term investments; Total liabilities: $11.60B; Cash and short-term investments: $6.08B; Cash and investments: $6.08B; Long-term investments: $0; Long-term investments classification: unclassified Long-term investments are shown separately; their marketability is not established by the provider field. The cash and short-term investment balance does not establish unrestricted availability. | 2026-06-30 | FMP | Financial Modeling Prep (FMP), from the company's balance sheet |
| Cash and investment components | Total basis: cash short and long-term investments; Total: $6.08B; Cash and short-term investments: $6.08B; Long-term investments: $0; Long-term investments classification: unclassified Sums the balance sheet's cash and short-term investments with its long-term investments.; The long-term investment field does not establish marketability; the sum is not a measure of available liquidity.; These provider fields do not establish investment access restrictions or explain differences from third-party cash figures. | 2026-06-30 | COMPUTED | Computed from the balance sheet |
| Cash and short-term investments over time (USD millions) | Captured record · 8 entries
| 2026-06-30 | FMP | Financial Modeling Prep (FMP), from the company's quarterly balance sheets |
| Cash against market value | As of: 2026-06-30; Cash basis: cash and short-term investments; Net cash: -$1.75B; Total debt: $7.84B; Cash and investments: $6.08B Price-based multiples captured at research time are not repeated here; the page shows each once, from current figures with their own dates. Cash is the latest reported cash and short-term investment balance; long-term investments are excluded. Market capitalization is the latest provider value.; The reported balance does not establish unrestricted availability or liquidation value.; The two are measured on different dates — the balance sheet is a quarter-end, the market cap is a recent close.; Debt is total debt as reported, including operating lease liabilities where the filer includes them. | 2026-06-30 | COMPUTED | Computed from the balance sheet and the latest market capitalization |
| Cash runway cross-check (ours) | Years: 4.3; Method: cash and short-term investments of $6084.7M at 2026-06-30 divided by the annualized rate at which operations and capital spending used cash ($1423.1M per year); Reaches: 2030-10; Cash basis: cash and short-term investments; Cash: $6.08B; Annualized cash use: $1.42B Rate taken from operating cash flow less capital expenditure over the 8 most recent reported quarters, annualized.; Measured from operations, not from the change in the cash balance — a company that raised money during the window would otherwise appear to be burning less than it is.; Assumes that rate continues unchanged: it ignores announced cost reductions, financing already arranged and any change in spending.; Assumes the reported cash and short-term investments are realizable for funding operations; restrictions and timing of access are not established by these provider fields. Long-term investments are excluded.; It is a cross-check, not a forecast, and the company's own statement about its runway outranks it. | 2026-06-30 | COMPUTED | Computed from reported cash flow; assumptions stated |
| Distress and quality screens | Altman Z-score: 1.2; Piotroski F-score: 3 Altman Z below 1.8 is the conventional distress zone. The screen is built for manufacturers and industrials; for banks, insurers and property companies it is not a meaningful reading. | 2026-09-13 | FMP | Financial Modeling Prep (FMP) financial scores |
| Next earnings report | Date: 2026-11-05; EPS estimate: -$0.56 per share; Revenue estimate: $238.39M The date is our provider's estimate until the company confirms it. | 2026-09-13 | FMP | Financial Modeling Prep (FMP) earnings calendar |
| Analyst revenue and earnings estimates (average) | Captured record · 4 entries
| 2026-09-13 | FMP | Financial Modeling Prep (FMP) analyst estimates |
Data provided for informational purposes only.
ETFs that hold IREN
Funds in our ETF coverage that list IREN among the top 10 holdings on their fund page, largest weight first. Each weight is the fund's reported holding weight as of the date in its row.
| ETF | Weight | Holdings as of |
|---|---|---|
| iShares Blockchain and Tech ETF (IBLC) | 8.51% | |
| BLOX ETF | 4.92% | |
| Invesco Alerian Galaxy Blockchain Users and Decentralized Commerce ETF (BLKC) | 1.46% |